Ledger wallets will support more than 100 tokens by 2020

Representatives of the French company Ledger, which produces hardware wallets, told in an exclusive interview with CoinDesk that starting from August of this year on the first Tuesday of each month they will add support for new cryptocurrency assets. Thus, by the end of 2019, more than 100 cryptocurrencies will be gradually added. Now wallets and Ledger services provide access to only 22 tokens. This week Ledger adds support for Zcoin (XZC) and Tron (TRX).

According to the company’s representatives, such a plan is designed to meet the growing demand for multicurrency solutions, primarily from institutional investors.

Although founded in 2014, Ledger is known mainly for hardware wallets and corresponding offers for private clients – crypto enthusiasts, its head Eric L’Archeveque announced a new business line – depository service, whose customers will be hedge funds and other major players. According to him, this intention is behind the initiative “Token on Tuesdays”.

L’Archevek noticed in an interview with CoinDesk: “If we want to attract institutional investors, then we have no other way but to provide support for 100 cryptocurrencies at least. If this happens, hundreds of hedge funds will place capital in cryptocurrencies, which will open the way for other financial institutions, and then the bill will go to billions.”

President of the Ledger Pascal Gauthier, believes that the influx of representatives of the traditional financial sector into the global cryptocurrencies ecosystem will stimulate the growth of bitcoin, even if investors buy other digital assets.

In addition, representatives of Ledger declare their intention to increase the practical value of their hardware purses for retail investors. The company has already made a step in this direction, announcing on July 9 about the release of new software for Ledger Nano S and Ledger Blue called Ledger Live with support for Windows, Mac and Linux operating systems. Until now, hardware wallets from Ledger could only be used through Google Chrome applications. This caused inconvenience: for managing cryptocurrencies, users had to install three Google Chrome applications (for bitcoin, Ripple or Ethereum) via Ledger Manager. Now Ledger Live is available as a single application that does not require the use of a browser.

Demand for software is growing faster than hardware wallets, which the company sold more than a million. According to L’Archeveque, the number of monthly users of the application has increased from 100,000 in November 2017 to 500,000 today.

L’Archeveque explained that the functional Ledger Live allows communities of users of a particular cryptocurrency to build in support for their selected coins.

As for institutional investors, Ledger already cooperates with the Japanese bank Nomura. The latter uses the company’s tools in the work of its depositary service. Source: coinspot.io